1tcf atocha project secured, page-7

It seems like a good prospect to add to their portfolio, but they have also stated they will farm out 75% of the project and only maintain a 25% working interest.

This is a prudent approach imo as the risk will be significantly minimised, however the upside will not be 1 tcf potential, but rather 250 bcf (still extremely large if it ever came through for the scale of the company).

Shame it wasn't a 3d seismic, but haven't really researched into the project yet, so will see what I can dig out.

This one looks like it will be a gradual climber initially - more on the lines of an ADI rather than a GDN. I think it is a pretty safe 3-6 mth buy at the present levels.

Cheers
SBC